PE-VC Fund Investments
Sanitation-tech co. Solinas Integrity raises $5.5 M from Hero Enterprise, others
Chennai-based Solinas Integrity has raised USD 5.5 million in a Series A1 funding round led by Hero Enterprise Partner Ventures and Mela Ventures, with participation from Luthra Group, SBI Ventures, Rainmatter and 8X Ventures Fund I. Kumbhat Advisors served as the financial advisor to the transaction.Founded in 2018 by Divanshu Kumar and Moinak Banerjee, the company builds robotics and AI systems to inspect, clean, and digitise underground water and wastewater infrastructure.The company will also use the funds to expand into the Middle East and Southeast Asia. Additionally, the capital will support the development of next-generation robotic inspection and cleaning technologies, the enhancement of AI-powered software and asset management platforms, and the expansion of the firm’s industrial solutions portfolio.
Between Oct 2022 and Jun 2024, Solinas Integrity had attracted about $ 2-M from Rainmatter Capital, SBI Ventures, 8X Ventures, and others.For FY25, Solinas Integrity had reported about INR 9 Cr in Operating Income and about INR 9 Cr in Net Loss.
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